Samsung Electronics continues to hold the top spot in the global TV market in terms of unit sales, while LG Electronics and China-based Hisense and TCL strive for second place, according to market sources.
Current TV shipments for LG, Hisense, and TCL are close, with sources expecting the fight for second place to be tight in 2023.
During the 2022 FIFA World Cup, Hisense advertised "First in China, Second in the world," which it later changed to "Made in China, Let's work together."
Hisense released the ad because according to a report by AVC Revo, in the first 10 months of 2022 it shipped 19.6 million TVs worldwide, for an annual growth rate of 18%, placing the company second in the world and first in China.
However, data from Omdia shows that market share based on global TV sales in the first three quarters of 2022 placed Samsung first with 20.2%, followed by LG with 12%, TCL with 11.7%, Hisense with 10.1%, and Xiaomi with 6.5%.
According to industry estimates, LG is aiming to ship 21.5 million LCD TVs in 2023, which does not include OLED TVs. Sources expect the company will purchase 23-24 million LCD TV panels.
Hisense's TV shipment growth has been strong in 2022. The company's subsidiary brand Vidda, which focuses on products with high cost-performance ratios, is also increasing its market share.
Hisense has set a target shipment total of 25-26 million TVs for 2023 and a panel purchase volume of 28-29 million, sources said.
Hisense's main panel suppliers are BOE Technology and AU Optronics (AUO). In 2022, BOE supplied Hisense with 9 million panels and is expected to supply 10-12 million in 2023. AUO supplied 6 million panels and is expected to supply nearly 7 million in 2023. Supply from TCL China Star Optoelectronics Technology (CSOT) and Innolux are also expected to increase in 2023.
TCL's goal is to ship 24 million TVs in 2023; panel purchases, which also include from its own OEM, reached 30 million in 2022 and will increase to 33 million in 2023.
TCL's subsidiary CSOT is their main supplier and is expected to supply 23 million panels in 2023, with figures from Innolux and HKC also expected to increase in 2023.
TV brand companies remain cautious about 2023 market demand due to overall economic uncertainty. Sources expect Samsung's total TV shipment target of 40 million in 2023 will firmly keep it in first place.
The industry estimates that total global TV shipments in 2023 will be flat with 2022; however, the profit performance between the different brands will somewhat differ.
Sources pointed out that while Samsung VD saw profits in third-quarter 2022, reduced demand increased costs, which led to a decrease in profits.
Revenue for LG's home entertainment business unit in third-quarter 2022 amounted to KRW3.7 trillion (US$2.85 billion), but an increase in sales investment resulted in an operating loss of KRW55.4 billion. In the future, LG's home entertainment business unit will focus on effectively managing sales costs and strengthening the promotion of its top-end TVs.
Article translated by Eifeh Strom
